Another range-bound session for the euro this morning in Asia, amid signs of risk aversion while the release of Chinese GDP data failed to provide any major relief. Concerns remained about the crisis in Ukraine, while comments from the Fed’s Kocherlakota this morning also kept the dollar aloft. Euro-dollar opened at $1.3815 this morning after a $1.3791 to $1.3833 range overnight in the US. It slipped off the early $1.3816 high and went to a $1.3807 low, where demand from around $1.3800 supported. The pair marked a small recovery then, back to $1.3815 but found no follow-through to take it further up. It was only late in the morning before euro-dollar broke through $1.3815 for a high of $1.3820 after the Chinese GDP data release and as euro-yen went up to its session high. Euro-dollar was last at $1.3817. There are orders cited on both sides of the market, keeping the pair range-bound for now, with demandstill seen at $1.3790/80 while sellers are perched above $1.3850, according to dealers. Stops meanwhile are noted above $1.3835 and $1.3865/75 and below $1.3780.
